"We reject and condemn the NICA-ACT as the continuity of historical policies of imperial interference of the United States in Nicaragua," Vice President Rosario Murillo said as she read the official statement by the government.

Nicaragua also demanded that the United States pay the compensation it was ordered to disburse in 1986 by the International Court of Justice in The Hague. The compensation involves "the fatal damage caused to the people and government of Nicaragua for the destructive and illegal interference of that power in our national affairs" in funding Contras during the country's civil war.

Murillo also said the Central American country will continue to be sovereign and will work with other countries towards peace and unity in the region.

The U.S. House Foreign Affairs Committee on Thursday passed the bill, officially known as the Nicaraguan Investment Conditionality Act of 2017, in an effort to impose economic sanctions on Nicaragua and add conditions to the provisions of aid from international financial institutions.

U.S. Ambassador to Nicaragua Laura Dogu said earlier this week that it is her belief that some members of the U.S. Congress would favor the Nica Act “simply because of the support that Nicaragua is giving to Venezuela.”

Dogu added that the U.S. government has "noted which countries support Venezuela," stating that Nicaragua “does not have many friends in Washington, for the support it gives to Venezuela," according to Bolsa de Noticias newspaper.